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German gold sector

Market study for responsible gold from ASM published


31.01.2019 |

As part of its commitment to responsible small-scale mining, the German Federal Institute for Geosciences and Natural Resources (BGR) commissioned a market study on the demand for responsible gold from artisanal and small-scale mining (ASM) in the German gold industry. The market study examined how current and potential demand is structured through background research, an online survey and interviews with companies in the German and wider European downstream gold sectors, and what the obstacles and motivating factors are for an increased supply of gold from responsible ASM.

Briefly summarized, the most important results of the study:

  • The study is divided into two parts. The first theoretical part deals with the structure of the gold sector in Germany, while the second part (market analysis) focuses on the survey and interviews with the participating companies.
  • Obstacles of a market development are currently: Insufficient / unstable offer of certified gold, recycling gold as a "green competitive product" as well as a missing anchoring of the certification organizations in Germany
  • Opportunities of the market development are currently: An increasing demand for responsible gold, positive developments in countries like Great Britain and Switzerland, successfully placed pioneer products (commemorative coins, bars) and the desire of the German goldsmith companies for purchase responsible ASM gold via German gold refineries.

The market study has shown that despite multiple obstacles and slow progress in terms of sourcing from responsible ASM, there is a lot of potential in the German gold industry to increase uptake of such material. This can be facilitated by a collaboration between public and private sector, working on supply as well as demand factors.


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